OKEx to launch XRP/USDT, ETC/USDT Futures trading pairs

Malta-based cryptocurrency exchange OKEx has been making news after it rolled out USDT-Margined Futures on its platform recently. This came on the heels of the exchange launching BTC/USDT Futures contracts on its platform, following which EOS/USDT Futures trading went live as well. In more recent news, the exchange has extended its support to two new cryptocurrencies: XRP and ETC.

According to the exchange’s latest blog post, both Futures trading pairs, XRP/USDT and ETC/USDT, are scheduled to go live on 4 December from 7: 00 [UTC]. The leverage for both the altcoins is set at 0.01x-33.3x. Additionally, the blog post revealed that the contract delivery time was 8: 00 [UTC], Friday of the expiring week and the settlement time was set at 8: 00 [UTC], daily for both XRP as well as ETC.

Source – XRPUSDT Futures on OKEx | Support

Source – ETCUSDT Futures on OKEx | Support

Additionally, it can be noted that the leverage for the aforementioned coins is 0.01x – 33.3x, which is fairly lower than the leverage set for all the other coins which are 0.01x -50x. However, the BTC/USDT trading pair for Futures contracts has a leverage level of 0.01-100x.

The exchange supports over seven coins including, Bitcoin, Ethereum, Litecoin, EOS, Bitcoin Cash and now, XRP and ETC, for trading on the USDT-margined Futures market. Further, the blog post revealed that Tron’s native cryptocurrency, TRX, and Bitcoin SV [BSV] will also make it to the list soon.

In a recent press release, the CEO of OKEx, Jay Hao, had revealed that the latest feature was a hit. He said,

“The simulation of our USDT Futures Contract was very successful, and we received positive feedback from traders in the OKEx community.”

Hao also disclosed that the exchange is looking forward to adding USDT linear contracts to the OKEx Futures market, and then on the Perpetual Swap market, in order to assist the needs of the exchange’s user base.

Sahana Kiran

Sahana is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector across geographies.

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